Problem H-3 (Part Level Submission)

On December 31, 2018, the end of its first year of operations, Blossom Associates owned the following securities that are held as long-term investments.

Problem H-3 (Part Level Submission) On December 31, 2018, the end of its first year of operations, Blossom Associates owned the following securities that are held as long-term investments. Common Stock C Co. D Co. E Co. Shares 1,010 4,640 1,104 Cost $43,430 35,264 22,080 On this date, the total fair value of the securities was equal to its cost. The securities are not held for influence or control over the investees. In 2019, the following transactions occurred. July 1 Aug. 1 Sept. 1 Oct. 1 Nov. 1 Dec. 15 31 Received $2 per share semiannual cash dividend on D Co. common stock. Received $0.50 per share cash dividend on c Co. common stock. Sold 930 shares of D Co. common stock for cash at $9 per share. Sold 272 shares of C Co. common stock for cash at $48 per share. Received $1 per share cash dividend on E Co. common stock. Received $0.50 per share cash dividend on c Co. common stock. Received $2.10 per share semiannual cash dividend on D Co. common stock. At December 31, the fair values per share of the common stocks were c Co. $42, D Co. $7.40, and E Co. $24. These investments should be classified as long-term. (a) Journalize the 2019 transactions (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit